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Ophthotech announces proposed public offering of stock

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Ophthotech Corp. announced an underwritten public offering of 1.9 million shares of its common stock.

In addition, the press release stated that stockholders of the company are expected to grant the underwriters an option for a period of 1 month to purchase up to an additional 285,000 shares at the public offering price, less the underwriting amount.

The company explained that the offering is subject to market conditions and there is no guarantee as to when the offering may be completed.

Ophthotech is a biopharmaceutical company specializing in the development of novel therapeutics to treat diseases of the eye, with a focus on developing therapies for age-related macular degeneration.